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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Revenue Multiple | 3,9x - 4,4x | 4,1x |
Selected Fwd Revenue Multiple | 3,6x - 3,9x | 3,7x |
Fair Value | ₪41,59 - ₪45,99 | ₪43,79 |
Upside | 29,0% - 42,7% | 35,8% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Solaer Renewable Energies Ltd | SOLR | TASE:SOLR |
Doral Group Renewable Energy Resources Ltd | DORL | TASE:DORL |
Sunflower Sustainable Investments Ltd | SNFL | TASE:SNFL |
Zephyrus Wing Energies Ltd | ZPRS | TASE:ZPRS |
Meshek Energy - Renewable Energies Ltd. | MSKE | TASE:MSKE |
OPC Energy Ltd. | OPCE | TASE:OPCE |
Select LTM Revenue Multiple | ||||||||
Benchmark Companies | ||||||||
SOLR | DORL | SNFL | ZPRS | MSKE | OPCE | |||
TASE:SOLR | TASE:DORL | TASE:SNFL | TASE:ZPRS | TASE:MSKE | TASE:OPCE | |||
Historical Revenue Growth | ||||||||
5Y CAGR | 45.5% | 124.0% | 24.2% | 120.8% | 65.4% | 15.9% | ||
3Y CAGR | 66.5% | 35.4% | 47.4% | 10.7% | 32.5% | 20.8% | ||
Latest Twelve Months | 48.9% | 294.2% | -5.3% | -20.7% | 33.9% | 8.9% | ||
Historical EBIT Profit Margin | ||||||||
5 Year Average Margin | -67.9% | -49.4% | 23.9% | 57.1% | -49.8% | 8.4% | ||
Prior Fiscal Year | -38.2% | -93.5% | 15.9% | 56.8% | -41.0% | 6.8% | ||
Latest Fiscal Year | -19.4% | -33.4% | 42.0% | 40.9% | -20.0% | 7.8% | ||
Latest Twelve Months | -23.6% | -33.4% | 42.0% | 40.9% | -20.0% | 7.8% | ||
Current Trading Multiples | ||||||||
EV / LTM Revenue | 21.87x | 9.39x | 3.61x | 7.36x | 9.31x | 2.99x | ||
EV / LTM EBIT | -92.9x | -28.1x | 8.6x | 18.0x | -46.6x | 38.2x | ||
Price / LTM Sales | 7.35x | 6.61x | 1.31x | 3.94x | 18.19x | 2.97x | ||
Low | Mid | High | ||||||
Benchmark EV / LTM Revenue | 3.61x | 9.31x | 21.87x | |||||
Historical EV / LTM Revenue | 2.99x | 5.15x | 6.31x | |||||
Selected EV / LTM Revenue | 3.94x | 4.14x | 4.35x | |||||
(x) LTM Revenue | 2,779 | 2,779 | 2,779 | |||||
(=) Implied Enterprise Value | 10,940 | 11,516 | 12,092 | |||||
(-) Non-shareholder Claims * | (53) | (53) | (53) | |||||
(=) Equity Value | 10,887 | 11,463 | 12,039 | |||||
(/) Shares Outstanding | 255.7 | 255.7 | 255.7 | |||||
Implied Value Range | 42.57 | 44.83 | 47.08 | |||||
FX Rate: ILS/ILS | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 42.57 | 44.83 | 47.08 | 32.24 | ||||
Upside / (Downside) | 32.1% | 39.0% | 46.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | SOLR | DORL | SNFL | ZPRS | MSKE | OPCE | |
Enterprise Value | 1,524 | 2,911 | 630 | 1,469 | 986 | 8,297 | |
(+) Cash & Short Term Investments | 124 | 540 | 151 | 144 | 53 | 962 | |
(+) Investments & Other | 15 | 2,159 | 0 | 48 | 2,439 | 5,320 | |
(-) Debt | (1,152) | (3,528) | (540) | (875) | (1,180) | (4,666) | |
(-) Other Liabilities | 6 | (31) | (12) | 0 | (372) | (1,669) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 517 | 2,051 | 229 | 786 | 1,926 | 8,244 | |
(/) Shares Outstanding | 16.4 | 177.7 | 38.6 | 65.0 | 710.6 | 255.7 | |
Implied Stock Price | 31.52 | 11.54 | 5.92 | 12.09 | 2.71 | 32.24 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 31.52 | 11.54 | 5.92 | 12.09 | 2.71 | 32.24 | |
Trading Currency | ILS | ILS | ILS | ILS | ILS | ILS | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |